Report: Volkswagen Looking To Acquire Karmann

Report: Volkswagen Looking To Acquire Karmann

Last year a spate of bankruptcy threats and possible acquisitions or closures hit the coachbuilding industry, and then earlier this year Karmann, perhaps most famous for the Karmann Ghia conversion, shut its doors before heading into bankruptcy.

While there was some initial hope from reports claiming Karmann may live on due to a $14 million deal with Volkswagen to help with the development and supply electric vehicles, neither firm confirmed the news.

Today, however, a spokesman for Karmann has revealed that Volkswagen wants to buy the bankrupt independent vehicle manufacturer.

"There have been talks for some time," Roland Leithaeuser told The Associated Press on Sunday, confirming a report by weekly Der Spiegel.

According to the new reports, Volkswagen and Karmann have been negotiating the deal terms for several weeks but are yet to come to an agreement.